The global alcoholic beverage market size is anticipated to reach USD 1,642.5 billion by 2020 growing at a CAGR of 2.7% during the forecasting period, 2020-2028.
Alcoholic Beverages are fermented drinks that contain the chemical properties of ethanol like they are flammable & colourless. The alcoholic beverages are made by fermenting & decomposing the sugar in berries, fruits, grains. The percentage of the alcohol can be increased by the distillation process.
The worldwide alcoholic drinks industry is expanding due to an increase in the global young-adult demographic, an increase in disposable income, and an increase in consumer demand for premium/super premium goods. Furthermore, new advances in honey-derived products promise to be a feasible alternative for producing unique alcoholic beverages for customers and driving the market's future growth. The foodservice industry witnessed huge sales in the recent past, with considerable sales coming from premium alcoholic beverages, especially premium wine and whiskey.
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According to the Luxury Brand Index (LBI), a tool developed by the Distilled Spirits Council of the United States (DISCUS) to analyze sales of spirits brands by volume at the top end of the distilled spirits market, luxury brands increased by 37% in the first quarter of 2022 compared to the same quarter in 2021.
However, the high cost of premium/super premium goods, as well as the escalation of the nonalcoholic beverage industry due to increased health concerns, are projected to limit market expansion in the near future.
The alcoholic drinks market was significantly disrupted by the COVID-19 epidemic owing to the closure of specialized stores, taverns, pubs, and restaurants. Retailers gained confidence when lockdown restrictions were eased in mid-2020. At the same time, high price increases were recorded in several nations, primarily owing to government rules and taxes, which had a minor impact on the market analyzed.
The beverage market in the United States is worth 202 billion liters of liquid. Alcohol accounts for 16.5 percent of total beverage volume. Malt drinks account for more than 80% of the alcoholic beverage market, with wine and spirits accounting for the remaining 20%. Distilled spirits account for around 7% of alcoholic beverage sales. Vodka is the most popular subcategory of spirits, accounting for 34% of all cases sold, followed by whiskey (24%), and various speciality spirits (12%). Wine accounts for around 11% of the alcoholic beverage market. Domestically produced wines account for 71% of cases sold, while imported wines account for 19%. Champagnes and sparkling wines account for around 7% of total wine volume. According to a report by Distilled Spirits Council, spirit industry generates $200 billion in U.S. economic activity annually
The global alcoholic beverage market is segmented into product type, type, packaging, distribution channel, and geography.
The product Type segment is sub-segmented into Beer, Spirits, Wine, Cider, and Others. Wine has been segmented on the basis of product type into red wine and white wine. Wine segment on the basis of type is segmented into sparkling wine and fortified wine. The spirits segment has been further segmented into brandy, rum, tequila, vodka, genver, whisky, mezcel, gin, and others. Whisky has been further segmented into scotch whisky, malt whisky, grain whisky, corn whisky, and others. Rum has been segmented into dark rum, white rum, and gold rum. The beer segment has been sub-segmented into lager beer, draught beer, and hybrid beer.
The packaging segment is sub-segmented into Bottles, Tetra Packs, and Cans. Bottles are further segmented into glass and plastic.
The type segment is sub-segmented into Flavoured and Unflavoured,
Distribution Channel segment is sub-segmented into Specialty Stores, Modern Trade, Convenience Stores, Hotels/Restaurants/Bars, Online Retailers, Others
On the basis of distribution channel, the specialty stores segment is expected to dominate the market for alcoholic beverage market during the forecast period 2020-2028
Geographically, the global alcoholic beverage market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions.
Europe is a major producer and consumer of alcoholic drinks worldwide. According to the WHO, in 2016, an average of 170 grams of alcohol per capita was drank each week in Europe. Men consume 18.3 liters of pure alcohol per week, while women consume 4.7 liters per week. Approximately 72% of the population reported having drunk alcohol in the previous 12 months. According to the Globe Health Organization's most recent European health report, people in the European Union consume more alcohol than any other region in the world, consuming an average of 8.71 liters, or almost 25 beer-sized glasses of pure alcohol, per person each year.
Czech nationals consumed the most alcohol per capita in 2019, according to the World Health Organization, with individuals ingesting around 14.26 liters of pure alcohol. Latvia and Moldova come in second and third, with 13.19 and 12.85 points, respectively.
Beer is the global market leader in alcoholic drinks. During the projection period, Asia-Pacific is likely to dominate the market. Growth in internet selling has been found in the market analyzed. China will be the biggest market for alcoholic beverages.
Asia-Pacific region has come up as the prominent region for the leading share in the overall global market during the forecast period 2020-2028.
Key players in the global alcoholic beverages market are ANHEUSER-BUSCH INBEV, Heineken Holding, ASAHI GROUP HOLDINGS, Kirin Holdings, Diageo, Suntory Holdings, Molson Coors Brewing, Pernod Ricard, Carlsberg, Kweichow Moutai, Constellation Brands, Thai Beverage, Wuliangye Yibin, Brown-Forman, Jiangsu Yanghe Brewery, E. & J. Gallo Winery, Treasury Wine Estates, and among others.
The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:
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